Every year, the Canadian Housing and Mortgage Corporation publishes very valuable information on the Canadian Real Estate Market and Housing trends. Find all the details at www.chmc.ca/observer for this years update.
Posted by Marcus Kallweit
on January 10, 2012
Media publishes forcasts that Canadian property prices will fall or flatten over the next years. Well, nobody knows the future. Generally speaking: everything which goes up must come down. Property prices you read speak of ENTIRE Canada. There are areas where property prices did go down in the last years, mainly in areas which were 'hit' by the recession more then others. Chances are that ...
Posted by Marcus Kallweit
on July 22, 2011
National average home prices have increased by about 8% over year in the last 3 month despite a little slowdown in house sales. Owning a home still remains quite affordable. The expectations for Kitchener Waterloo area is to grow to around a population of 700,000 in the next 15 years. With more people coming to our fine area and less land to build on, real estate could be a pretty good investment.
Posted by Marcus Kallweit
on May 24, 2011
Home Evaluations are of course very important, if Selling your home, to see what the fair market value is. BUT it is also very important to have a Market evaluation done on the property you are about to buy. Buying a home is one of the largest investments you do in your life, you do not want to pay to much.
Posted by Marcus Kallweit
on April 19, 2011
If you have black pipes, known as ABS pipes, venting your natural gas Water Heater or Furnace, the might need to be replaced with with plastic pipes commonly known as system 636. This new regulation came in effect in 2007. Replace those pipes immediately if the are cracked. Have the tested. Your families health should be worth the expense.Those cracked pipes can release carbon monoxide.
Posted by Marcus Kallweit
on March 12, 2011
Starting March 18/2011 there will be some changes, again, to the mortgage industry:
1- Maximum amortization time will be reduced from 35 years to 30 years which can make a difference of around $ 100 in payments on a $ 300,000 Mortgage
2- The maximum Canadians can borrow to refinance their mortgage will be lowered from 90% to 85%
Posted by Marcus Kallweit
on January 18, 2011
Took my Family to Cambridge this Saturday to join the event The Mayor's Soup Sampler. This event supports Meals On Wheels. Different Restaurants Caterers and Organisations from Cambridge served samples of soup to support AND it was delicious. Select Service Caterers had an excellent Smoked Corn Chowder....simply mouth watering. A great idea to support a good cause.
Posted by Marcus Kallweit
on October 23, 2010
1. All borrowers must meet the standards for a 5 year fixed rate mortgage, even if they chose a lower interest or shorter term mortgage.
2. The maximum amount one can withdrawal in re-financing their mortgage will be reduced to 90% from a current 95% of the value of one' home.
3.Non-Owner occupied properties will require a minimum Down payment of 20%
No other changes to current down payment ...
Posted by Marcus Kallweit
on February 18, 2010
Real Estate is said to be very busy in the first half in 2010.
Reasons are that the interest rates most likely will go up, they most likely will not continue to be at this record low.
Second reason is the implementation of the HST starting July 2010
For the average Ontario home priced at around $ 300,000.00 the HST will add around $ 1500.00 to closing costs.
If you think you should wait a little ...
Posted by Marcus Kallweit
on February 5, 2010
Historically, the real estate market will slow down over the winter season. Most people want to wait till spring to look and purchase their new home. Why Wait? If there are less buyers on the market, you might get a better deal! Everybody talks about interest rates will go up. If you wait till spring, you might pay more for a property because of more buying competition, and you might have to pay higher ...
Posted by Marcus Kallweit
on December 3, 2009